Does Bojangles use a Letter of Intent as part of its standard franchise program?
Bojangles Franchise · 2025 FDDAnswer from 2025 FDD Document
| FRANCHISOR: BOJANGLES OPCO, LLC, | RECIPIENTS: FRANCHISEE: | |---------------------------------------------------------|----------------------------| | a Delaware limited liability company | [FRANCHISEE ENTITY NAME], a [State] [Type of Entity] | | By: | By: | | Jim Cannon | [Name] | | Chief Development Officer | [Title] | | Effective Date: | Date: | | Notice Address: | Notice Address: | | Via first class, postage prepaid, registered or | [Street Address] | | certified mail: | [City], [State] [Zip Code] | | P.O. Box 240239 | Email: [Email Address] | | Charlotte, NC 28224 | | | Attn: Chief Legal Officer | [INDIVIDUAL OWNER'S NAME], | | Via personal delivery or overnight courier | a resident of [State] | | services: | | | 9432 Southern Pine Boulevard | | | Charlotte, NC 28273 | Date: | | Attn: Chief Legal Officer | Notice Address: [Street Address] [City], [State] [Zip Code] Email: [Email Address] [INDIVIDUAL OWNER'S NAME], a resident of [State] | | | Date: Notice Address: [Street Address] [City], [State] [Zip Code] Email: [Email Address] |
EXHIBIT H LETTER OF INTENT (STANDARD PROGRAM)
LETTER OF INTENT (this "LOI")
This LOI is by and between BOJANGLES OPCO, LLC ("Bojangles"), a Delaware limited liability company with its offices located at 9432 Southern Pine Boulevard, Charlotte, North Carolina 28273 and [POTENTIAL FRANCHISEE ENTITY NAME] ("Prospective Franchisee") a [STATE] [limited liability company/corporation] with offices located at [ADDRESS]. Prospective Franchisee desires to obtain franchise rights to develop and operate one or more franchised Bojangles® restaurants (each, a "Restaurant") from Bojangles.
- 1. Prospective Franchisee Financial Requirements. Minimum financial requirements: [$1,350,000 in liquid assets and $2,500,000 net worth].
- 2. Managing Owner.
Source: Item 22 — CONTRACTS (FDD page 82)
What This Means (2025 FDD)
According to Bojangles' 2025 Franchise Disclosure Document, Bojangles utilizes a Letter of Intent (LOI) as part of its standard franchise program. Exhibit H of the FDD is a Letter of Intent, which outlines the preliminary understanding between Bojangles Opco, LLC and a prospective franchisee. The LOI indicates the prospective franchisee's desire to obtain franchise rights to develop and operate one or more Bojangles restaurants.
The Letter of Intent includes key financial requirements for prospective franchisees. Specifically, it states that a prospective franchisee must have a minimum of $1,350,000 in liquid assets and a net worth of $2,500,000. The LOI also identifies the Managing Owner, who must own a majority interest in the Prospective Franchisee.
However, the FDD states that the Letter of Intent is non-binding. It clarifies that neither the LOI nor any past or future conduct by either party constitutes a binding agreement. Any final agreement will be documented in a Development Agreement and/or Franchise Agreement, subject to Bojangles' internal approval process. Either party can discontinue negotiations at any time, for any reason, until the actual agreements are executed.